Jennison Associates LLC Sells 19,072 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Jennison Associates LLC lessened its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 482,289 shares of the utilities provider’s stock after selling 19,072 shares during the quarter. Jennison Associates LLC’s holdings in Chesapeake Utilities were worth $59,886,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CPK. Russell Investments Group Ltd. increased its holdings in shares of Chesapeake Utilities by 42.8% in the 1st quarter. Russell Investments Group Ltd. now owns 40,720 shares of the utilities provider’s stock worth $4,369,000 after buying an additional 12,214 shares during the last quarter. Vanguard Group Inc. increased its stake in Chesapeake Utilities by 6.8% during the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after acquiring an additional 118,878 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in Chesapeake Utilities during the first quarter valued at approximately $583,000. American International Group Inc. lifted its stake in shares of Chesapeake Utilities by 1.9% in the 1st quarter. American International Group Inc. now owns 11,816 shares of the utilities provider’s stock valued at $1,268,000 after purchasing an additional 215 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Chesapeake Utilities by 9.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 34,511 shares of the utilities provider’s stock worth $3,703,000 after purchasing an additional 3,018 shares during the period. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

CPK opened at $129.05 on Thursday. The business has a fifty day moving average of $122.22 and a 200 day moving average of $115.82. The stock has a market cap of $2.94 billion, a P/E ratio of 26.18 and a beta of 0.61. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 52-week low of $90.21 and a 52-week high of $130.93.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays raised their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.